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PacificCapital posts

Analyst downgrades: BTI, DVW, PCBC, VLCM and AMMD

Posted Oct 30th 2007 11:00AM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Las Vegas Sands (LVS)

MOST NOTEWORTHY: British American Tobacco, Covad Communications, Pacific Capital, Volcom and American Medical Systems were today's noteworthy downgrades:

Goldman downgraded shares of British American Tobacco (NYSE: BTI) to Neutral from Buy on valuation.
Covad Communications (NYSE: DVW) was lowered to Hold from Buy at Jefferies. The firm downgraded shares after Platinum Equity Holdings agreed to acquire the company.
Keefe Bruyette downgraded Pacific Capital Bancorp (NASDAQ: PCBC) to Market Perform from Outperform following its Q3 credit loss pre-announcement.
ThinkEquity reduced Volcom (NASDAQ: VLCM) to Accumulate from Buy following its reduced guidance.
American Medical Systems (NASDAQ: AMMD) was downgraded to Market Perform from Outperform at Raymond James and at Piper Jaffray. Piper downgraded shares following the lower-than-expected Q3 results. Shares were also downgraded to Hold from Buy at Stifel following the weak Q3 report.

OTHER DOWNGRADES:

Citigroup downgraded Mechel OAO (NYSE: MTL) to Hold from Buy.
Hutchison Telecommunications (NYSE: HTX) was downgraded to Neutral from Overweight at JP Morgan.
Las Vegas Sands (NYSE: LVS) was downgraded to Market Perform from Outperform at BMO Capital.

Analyst upgrades: Small-cap banks, WCN, WRNC and INTX

Posted Sep 19th 2007 10:50AM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Automatic Data Proc (ADP), AutoZone Inc (AZO), Best Buy (BBY)

MOST NOTEWORTHY: The small-cap bank sector, Waste Connections, Warnaco Group and Intersections were today's noteworthy upgrades:

Lehman upgraded the small-cap bank sector to Neutral from Negative as they expect the group to benefit from the decline in short-term interest rates and the steeping yield curve. The firm upgraded Associated Banc-Corp (NASDAQ: ASBC), Pacific Capital Bancorp (NASDAQ: PCBC) and Westpac Banking Corp (NYSE: WBK) to Equal Weight from Underweight.
Friedman Billings added Waste Connections (NYSE: WCN) to its Top Picks list. The firm believes the company can outperform the group and overall market in an economic downturn.
Warnaco Group (NASDAQ: WRNC) was upgraded to Overweight from Neutral at JP Morgan on valuation and growth potential.
JMP Securities' checks indicate that Intersections (NASDAQ: INTX) is on track to meet EPS expectations for the quarter and is well positioned to beat their 2008 EPS estimate of 80c. The firm raised shares to Strong Buy from Outperform.

OTHER UPGRADES:

Best Buy Incorporated (NYSE: BBY) and AutoZone (NYSE: AZO) were upgraded to Strong Buy from Outperform at Raymond James.
The firm also upgraded shares of CBRL Group (NASDAQ: CBRL) to Market Perform from Outperform.
JP Morgan upgraded Ruby Tuesday (NYSE: RT) and Plexus Corp (NASDAQ: PLXS) to Overweight from Neutral.
Bear Stearns raised MFA Mortgage Investments (NYSE: MFA) to Outperform from Peer Perform.
Goldman added Automatic Data Processing (NYSE: ADP) to its Conviction Buy List.